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Aptitude - Profit and Loss - Discussion

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"Nothing in life is to be feared, it is only to be understood."
- Marie Curie
1. 

Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

[A].
4 4 %
7
[B].
5 5 %
11
[C]. 10%[D]. 12%

Answer: Option E

Explanation:

Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.

Selling Price (S.P.) = Rs. 5800.

Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.

Gain % = 300 x 100 % = 5 5 %
5500 11


Nikila said: (Thu, Jul 22, 2010 09:51:23 AM)    
 
Please give the formula to find Gain and Gain%.

Naveen said: (Tue, Aug 10, 2010 04:31:49 AM)    
 
Gain = Selling Price(SP) - Cost Price(CP)

Gain% = (Gain/C.P)*100

Sagar said: (Mon, Aug 16, 2010 10:54:56 PM)    
 
I don't understand the how you get the 5(5/11).

I doesn't understand logic behind it please help me.

Sundar said: (Thu, Sep 9, 2010 05:19:55 AM)    
 
How did 5.5/11 come?

Gain% = (300 x 100)/5500

= 30000/5500

= 300/55

= 60/11

= 5.45454545....

= 5(5/11) [ after converting 5.4545.. into vulgar fraction]

Note: What is a vulgar fraction?

A fraction in the form of one integer divided by another, non-zero, integer.

A vulgar fraction is one where the numerator (the number on the top) is bigger than the denominator (the number on the bottom). More pedantically, the absolute value of the numerator is bigger than the absolute value of the denominator.

I hope you understand. Have a nice day!

Aamir said: (Mon, Oct 25, 2010 10:11:52 PM)    
 
Please solve and explain to this question.

Q.1) A carpenter bought an old table at Rs 480 and spent 20% of it on repairing. If he wants to make a profit of Rs 144 then what percentage should be added in purchase price?

Navnit said: (Mon, Dec 6, 2010 12:45:22 PM)    
 
20% of 480 i.e cost price is 96.
total cp = 480+96 = 576
to make a profit of 144 the selling price should be
576+144 = 720
if purchase price u meant is the COST PRICE..its hard to say
how would u make profit if u increase your costs investment

Vinod Kr.Yadav said: (Thu, Dec 9, 2010 04:28:19 AM)    
 
20% of 480 = 480*20/100 i.e. Rs.96
total c.p. = 480+96 i.e. 576
profit 144 i.e. s.p. = c.p.+ profit
= 576 + 144
= 720

Rupesh Kable said: (Sat, Dec 18, 2010 12:38:15 AM)    
 
But whats the percentage is added in purchase price?

Jithu James said: (Sun, Dec 26, 2010 07:46:55 AM)    
 
Purchase price = 480
144/480 =3/10 ie 30%

already he spended 20%
now he needs to add 30%
so totally 50%

Naresh said: (Tue, Jan 18, 2011 04:36:25 AM)    
 
How 50%?

Binoy R said: (Sat, Jan 29, 2011 04:17:42 AM)    
 
@Naresh

Purchase price= 480
Maintenance cost= 480* 20/100=96
Profit=144
Total=96+144=240

% increase from puchase price
= (240/480)*100
=50%

Soni said: (Mon, May 23, 2011 08:57:57 AM)    
 
Why do you add profit with maintenance cost? Explain me in clear manner.

Kushal said: (Wed, Jun 8, 2011 01:37:39 AM)    
 
Thanks for such a nice explanation.

Subhransu Biswal said: (Tue, Jun 14, 2011 01:15:29 PM)    
 
20% of 480 = 480*20/100 i.e. Rs.96
total c.p. = 480+96 i.e. 576
the question is to make a profit of Rs144 into%.
so,profit/cp*100
= 144/576*100
=25%
aamit, this is your right answer.

Christhu said: (Fri, Jun 24, 2011 08:22:43 AM)    
 
Need a better explanation. Which answer is correct, either 50% or 25%?

Kiruthi said: (Mon, Jul 11, 2011 01:25:29 PM)    
 
I need to know how the ans 5.454545 can be write in fraction as 5(5/11) %. Give a solution for me.

Sunil said: (Fri, Jul 15, 2011 11:12:17 PM)    
 
Sam buys an old pen for Rs. 10 and If he sells for Rs. 100, his gain percent is:

Priya said: (Thu, Jul 28, 2011 09:49:25 PM)    
 
If a man buys 1 lt of milk for Rs.12 and mixes it with 20% water and sells it for Rs.15, then what is the percentage of gain? Please solve this.

Pipe A can fill a tank in 30 mins and Pipe B can fill it in 28 mins. If 3/4th of the tank is filled by Pipe B alone and both are opened, how much time is required by both the pipes to fill the tank completely.

Swapnil said: (Mon, Aug 15, 2011 12:54:42 PM)    
 
Which one is correct? either 25% or 50%? we have to calculate profit on cost price, isn't it?

Kalpana said: (Sun, Aug 28, 2011 01:02:45 PM)    
 
@ sam
900%
S.P-C.P= Gain
Gain %= Gain/C.P*100

Rahul said: (Fri, Sep 9, 2011 01:09:19 AM)    
 
How did 5.5/11 come?

ANS: Gain% = (300 x 100)/5500

= 30000/5500

= 300/55

= 60/11

NOW dont calculate ans in decimal instead get ans. in the form of quotient remainder and divisor

Here QUOTIENT=5
REMAINDER=5
DIVISOR=11
SO V GET 5(5/11)

Munna said: (Thu, Sep 22, 2011 09:45:02 AM)    
 
It is simplification process.

[(11*5)+5]/11=60/11.

Malathy said: (Tue, Oct 11, 2011 04:17:58 PM)    
 
Thanks rahul nice explanation.

Pranav Rastogi said: (Thu, Oct 13, 2011 08:52:04 PM)    
 
Total cost= 4800+700=5500
and selling price= 5800
so profit= 300
and profit% = 300/5500*100 = 5(5/11)

Murthyalex said: (Fri, Jan 20, 2012 12:48:39 PM)    
 
The difference between 58% of a number and 39% of the same number is 247. What is 62% of that number?

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